(EnergyAsia, November 29 2011, Tuesday) — Global oil demand is expected to rise by around 900,000 b/d to 89.2 million b/d this year and by 1.3 million b/d to 90.5 million b/d next year, according to the latest monthly forecast issued by the International Energy Agency (IEA).

The latest forecast represents a slight decline from last month’s numbers due largely to expectations for weaker economic growth in the West.

The IEA said it has revised down its global oil demand forecast by 70,000 b/d for 2011 and by 20,000 b/d for 2012.

As for supply, the agency said rising production in non-OPEC countries boosted global output by one million b/d to 89.3 million b/d in October from September.

OPEC supply also rose, by 95,000 b/d, to 30.01 million b/d in October, thanks largely to higher output from Libya, Saudi Arabia and Angola which helped offset lower output from other members.